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Property crash, just maybe it really is different this time


haroldshand

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Satch’s Property Buyers Review – An Estate Agent Rights

How much does it cost to buy a million pounds worth of property today? Answer £792 per month. Yes, sub one percent mortgages are here in force for the right buyers, loads of cheap mortgages are now available. So after a year you would have paid just £9,500 in interest but in the last year property prices rose by around 10 percent so the property would have increased in price by £100,000. That’s a profit or gain of over £90,000 plus or nearly two grand a week. So having a million pound mortgage is like having three extra wages coming in and it is all tax free.

At these rates you should buy two, one to live in and one as an investment. At these prices there is no need even to rent the property out, just keep it and watch the money grow, it's like having you very own money tree. And property price growth will only increase if more people hoard property making home owners even richer. Rising property prices also help GDP so come on Nik-Nak time for some Miras type tax relief for beleaguered home owners and landlords.

Some people will complain about not being able to get onto the property ladder. It is sad that these ‘rent forevers’ will never own a property but that’s what happens when you spend all your money on iPads rather than save for a deposit on a property like the boomers had to do. They didn’t spend money on iPads, well mainly because iPads didn’t exist then but that is not the point. It took at least six months even with two people working to save the ten percent deposit. The naysayers said property prices reached a peak in 2008, since that time property prices have more than doubled while wages in real terms are now less than they were in 2008.

This trend is exacerbated in London, where they have also seen the biggest wage falls. The average full-time employee in London earned £655 a week in 2017; down from £700 in real-terms in 2009. Fortunately the benefits system kicks in and help pay the rent. Rents which forever spiral upwards as benefit payments are directly linked to local rents as rents increase then benefit payments follow.

There is no better time to invest in property. No government will ever let property prices fall. I predict that as we have gone from the average property costing three or four time the average wage to 10 times the average wage today. We are well on the way to 30 or 40 times with all-time low mortgage rates driving up prices and rents underpinned by the benefits system to give canny landlords the return they need and deserve. Expect the average London salary to fall to £25k and the average London property to rise to £2,500,000 or 100 times the average London wage in the next five years. Buy now, don’t miss out. Buy one or buy two. Buy now.

 

Edited by satch
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I mean, somethings got to give.

Boomers age, retire and pass away.
Furloughs to mass unemployment.
BOE force to raise IR's
1.2M Euros left the UK.

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Frank Hovis

Well I for one am surprised.

A BBC article that seems to suggest that a house price crash would be a good thing because of how badly high house prices are affecting young people.

Well better late to the party than never.

I’m praying the market might crash’: Young people in the UK’s rural hotspots feel priced out

 

https://www.bbc.co.uk/bbcthree/article/dd1d3768-0450-4b07-99e4-fee8e9fd9895

 

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Green Devil
17 hours ago, satch said:

Satch’s Property Buyers Review – An Estate Agent Rights

How much does it cost to buy a million pounds worth of property today? Answer £792 per month. Yes, sub one percent mortgages are here in force for the right buyers, loads of cheap mortgages are now available. So after a year you would have paid just £9,500 in interest but in the last year property prices rose by around 10 percent so the property would have increased in price by £100,000. That’s a profit or gain of over £90,000 plus or nearly two grand a week. So having a million pound mortgage is like having three extra wages coming in and it is all tax free.

At these rates you should buy two, one to live in and one as an investment. At these prices there is no need even to rent the property out, just keep it and watch the money grow, it's like having you very own money tree. And property price growth will only increase if more people hoard property making home owners even richer. Rising property prices also help GDP so come on Nik-Nak time for some Miras type tax relief for beleaguered home owners and landlords.

Some people will complain about not being able to get onto the property ladder. It is sad that these ‘rent forevers’ will never own a property but that’s what happens when you spend all your money on iPads rather than save for a deposit on a property like the boomers had to do. They didn’t spend money on iPads, well mainly because iPads didn’t exist then but that is not the point. It took at least six months even with two people working to save the ten percent deposit. The naysayers said property prices reached a peak in 2008, since that time property prices have more than doubled while wages in real terms are now less than they were in 2008.

This trend is exacerbated in London, where they have also seen the biggest wage falls. The average full-time employee in London earned £655 a week in 2017; down from £700 in real-terms in 2009. Fortunately the benefits system kicks in and help pay the rent. Rents which forever spiral upwards as benefit payments are directly linked to local rents as rents increase then benefit payments follow.

There is no better time to invest in property. No government will ever let property prices fall. I predict that as we have gone from the average property costing three or four time the average wage to 10 times the average wage today. We are well on the way to 30 or 40 times with all-time low mortgage rates driving up prices and rents underpinned by the benefits system to give canny landlords the return they need and deserve. Expect the average London salary to fall to £25k and the average London property to rise to £2,500,000 or 100 times the average London wage in the next five years. Buy now, don’t miss out. Buy one or buy two. Buy now.

 

Is that IO or repayment?

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3 hours ago, Frank Hovis said:

Well I for one am surprised.

A BBC article that seems to suggest that a house price crash would be a good thing because of how badly high house prices are affecting young people.

Well better late to the party than never.

I’m praying the market might crash’: Young people in the UK’s rural hotspots feel priced out

 

https://www.bbc.co.uk/bbcthree/article/dd1d3768-0450-4b07-99e4-fee8e9fd9895

 

I think they do one of these articles about once a decade, presumably so they can point to them as examples of balanced reporting. I vaguely remember reading one from about 2005, actually by a BBC employee, saying that he would be happy if his home fell fell in value to five pounds, because he would then buy a mansion for fifteen quid. I don't think economic literacy is high on their recruitment priorities.

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Fully Detached
8 hours ago, Frank Hovis said:

Well I for one am surprised.

A BBC article that seems to suggest that a house price crash would be a good thing because of how badly high house prices are affecting young people.

Well better late to the party than never.

I’m praying the market might crash’: Young people in the UK’s rural hotspots feel priced out

 

https://www.bbc.co.uk/bbcthree/article/dd1d3768-0450-4b07-99e4-fee8e9fd9895

 

I think they run those articles from time to time so that the older generation can point to the next "Help to get into a lifetime of debt servitude" scheme and tell them, there you go, you're being helped out, not like it was in our day, we had to work 7 days a week and never eat unless we cooked the neighbours cat - now stop hoping for a crash because that would be bad for everybody, etc etc.

And 99% of the young will lap it up and jump in with dollar signs in their eyes 'cos they want them some of that free and easy cash they've seen everybody else making.

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Different as in one actually happens?  I hope so for those looking to buy, as long as they still have jobs, etc to be able to buy.  I have a house.  I don't care about the price.  It's a place for me to live, not invest.  It would be nice if everyone thought that and the yapping was about something more productive.  Houses are really boring.

Edited by Harley
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On 19/06/2021 at 08:19, Frank Hovis said:

Well I for one am surprised.

A BBC article that seems to suggest that a house price crash would be a good thing because of how badly high house prices are affecting young people.

Well better late to the party than never.

I’m praying the market might crash’: Young people in the UK’s rural hotspots feel priced out

 

https://www.bbc.co.uk/bbcthree/article/dd1d3768-0450-4b07-99e4-fee8e9fd9895

 

What's the median BBC age?

Under 40 and they'll have been milked by scum btl ll for 20 years.

Over 55 and they've a nauce house in West London, looking for their free freedom pass.

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Frank Hovis
1 hour ago, Harley said:

Different as in one actually happens?  I hope so for those looking to buy, as long as they still have jobs, etc to be able to buy.  I have a house.  I don't care about the price.  It's a place for me to live, not invest.  It would be nice if everyone thought that and the yapping was about something more productive.  Houses are really boring.

I agree that would be a good thing but the way in which it would happen would mean that the damage falls upon the very young people that the crash is meant to be helping.

The FtBs who can no longer afford their mortgages through job losses or higher interest rates and are repossessed.

This was exactly what happened after 1988: the forced sales or sales at big losses were by twenty somethings who had really stretched themselves to buy and then lost serious money.

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5 minutes ago, Frank Hovis said:

I agree that would be a good thing but the way in which it would happen would mean that the damage falls upon the very young people that the crash is meant to be helping.

The FtBs who can no longer afford their mortgages through job losses or higher interest rates and are repossessed.

This was exactly what happened after 1988: the forced sales or sales at big losses were by twenty somethings who had really stretched themselves to buy and then lost serious money.

Some were.

However, a lot of big losses n ruin were 40+ who suddenly found themselves very unemployed after 15+ years employment.

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image.png.a585c6331a469a7c867e7dbd2a92aa59.png
https://www.telegraph.co.uk/politics/2021/06/19/tory-voters-want-return-fiscal-discipline-says-defeated-chesham/

Thats fucken laughable, if the govt end QE and ZIRP, their free money via house price inflation would vanish overnight.

These cunts would sooner a boat load of refugees were given free houses on their doorstep, than their own house being worth just 4 times average salary.

Edited by Hancock
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8 hours ago, Harley said:

Different as in one actually happens?  I hope so for those looking to buy, as long as they still have jobs, etc to be able to buy.  

Like the late 80s and early 90s, job losses for affordable housing is a worthwhile trade off.

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goldbug9999
32 minutes ago, Hancock said:

Like the late 80s and early 90s, job losses for affordable housing is a worthwhile trade off.

Somethings got to give, its getting completely mental now, anecdotally it feels live everything has gone up 15 - 20% in the last year near me although the official state say much lower. An ex council 3 bed terrace that would have gone for 70k in 2013 is going for 200k now. I have no fucking idea where people are getting the money from.

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21 minutes ago, goldbug9999 said:

Somethings got to give, its getting completely mental now, anecdotally it feels live everything has gone up 15 - 20% in the last year near me although the official state say much lower. An ex council 3 bed terrace that would have gone for 70k in 2013 is going for 200k now. I have no fucking idea where people are getting the money from.

Has to be landlord money imho.

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50 minutes ago, goldbug9999 said:

Somethings got to give, its getting completely mental now, anecdotally it feels live everything has gone up 15 - 20% in the last year near me although the official state say much lower. An ex council 3 bed terrace that would have gone for 70k in 2013 is going for 200k now. I have no fucking idea where people are getting the money from.

Prices up, transaction down. A lot.

I'll wait til dust clears n furlough ends.

 

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Don Coglione

Anecdotally, I have been told that the Rothschilds have been buying up residential property in Wiltshire.

Remember to whom the quote about buying when there was blood on the streets was ascribed...

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Frank Hovis
17 hours ago, Don Coglione said:

Anecdotally, I have been told that the Rothschilds have been buying up residential property in Wiltshire.

Remember to whom the quote about buying when there was blood on the streets was ascribed...

 

The implict thinking behind that quote was however that was the point at which assets became valueless and could hardly be given away (think timeshares, leasehold flats with cladding needing replacement).

Residential property is at a high.  The only value that I can see it at all at present prices is as a hedge against inflation to get yourself out of cash but they even look like a risky purchase on that basis because they could fall a long way.

If you bought gold in 1980 then it would have taken thirty three years for you to be back to the same position in which you started after adjusting for inflation.

 

image.thumb.png.0fd192db28f7661d8586777116781489.png

 

 

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5 hours ago, Hancock said:

Good old Matt.

image.png.ba9a2e5a465dcf691c6860ab3c297b87.png

 

We don't need more houses, we need less people

80% food imported 

7% forest remain

75% pollinating insects dead

We cant take anymore fecking people

 

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4 hours ago, macca said:

We don't need more houses, we need less people

80% food imported 

7% forest remain

75% pollinating insects dead

We cant take anymore fecking people

 

Most forests have been recreated by conservation efforts. Most of the woodland was cut down during the industrial revolution and after that, over time, trees have been planted in disused land to bring them back.

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4 hours ago, macca said:

We don't need more houses, we need less people

80% food imported 

7% forest remain

75% pollinating insects dead

We cant take anymore fecking people

 

Blimey, Prince Phillip reincarnated quickly.

You will be reassured that the depop program is already well underway then.

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19 hours ago, No One said:

Most forests have been recreated by conservation efforts. Most of the woodland was cut down during the industrial revolution and after that, over time, trees have been planted in disused land to bring them back.

HS2, the biggest deforestation since WW1.. They even bulldozed a forest planted for kids who died of cancer.. For a shit train that no one wants,, but Bojo's dad made a fortune from the house he bought on the route. along with a lot of Conservatives friends and donors.. We are run by fucking, corrupt, greedy idiots.

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@spyguy

Reading HPC, and noticed someone is praising your mate.

Ask this arse wipe what ability is it that Brown, Darling and Osborne have? ... other than to inflate a property bubble, then bail it out with other peoples money.

It's as if some people don't have a memory.

image.png.8884a552fef683f4f2a2659a27a76bc7.png

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Here is another cunt.

Tax breaks for the boomers who have won the house price lottery, should they decide to cash in some of their winnings.

Really cant make this stupidity up.

https://www.telegraph.co.uk/business/2021/06/27/abolish-stamp-duty-downsizers-tackle-housing-crisis/

All they've got to do is raise interest rates to about 2%, then the fictitious  housing shortage disappears.

image.png.9c266406d6e60bc5663abea8320d1eb4.png

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Wight Flight
12 hours ago, Hancock said:

Here is another cunt.

Tax breaks for the boomers who have won the house price lottery, should they decide to cash in some of their winnings.

Really cant make this stupidity up.

https://www.telegraph.co.uk/business/2021/06/27/abolish-stamp-duty-downsizers-tackle-housing-crisis/

All they've got to do is raise interest rates to about 2%, then the fictitious  housing shortage disappears.

image.png.9c266406d6e60bc5663abea8320d1eb4.png

Abolish inheritance tax on everything but a house would be my suggestion.

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